Cybin (NYSEAMERICAN:CYBN) Trading 1.7% Higher – Here’s What Happened
by Amy Steele · The Cerbat GemCybin Inc. (NYSEAMERICAN:CYBN – Get Free Report)’s stock price was up 1.7% on Thursday . The company traded as high as $8.38 and last traded at $8.3210. Approximately 717,263 shares were traded during trading, a decline of 17% from the average daily volume of 865,350 shares. The stock had previously closed at $8.18.
Analyst Ratings Changes
Separately, Guggenheim lifted their price target on shares of Cybin from $39.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $89.33.
View Our Latest Analysis on Cybin
Cybin Stock Performance
The stock has a market cap of $209.61 million, a PE ratio of -2.14 and a beta of 0.64. The stock has a 50-day moving average of $7.20 and a 200 day moving average of $6.92. The company has a quick ratio of 8.58, a current ratio of 8.58 and a debt-to-equity ratio of 0.21.
Institutional Investors Weigh In On Cybin
Hedge funds have recently made changes to their positions in the business. Bollard Group LLC acquired a new stake in shares of Cybin in the 2nd quarter worth $1,317,000. AdvisorShares Investments LLC increased its stake in shares of Cybin by 46.4% during the second quarter. AdvisorShares Investments LLC now owns 88,383 shares of the company’s stock worth $742,000 after acquiring an additional 28,000 shares during the period. Bank of America Corp DE raised its holdings in Cybin by 66.8% during the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after purchasing an additional 11,790 shares in the last quarter. Osaic Holdings Inc. lifted its position in Cybin by 46.7% in the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after purchasing an additional 2,400 shares during the period. Finally, Cowa LLC lifted its position in Cybin by 12.8% in the second quarter. Cowa LLC now owns 13,200 shares of the company’s stock valued at $111,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 17.94% of the company’s stock.
Cybin Company Profile
Cybin Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of psychedelic-based therapeutics for the treatment of mental health disorders. Founded in 2019 and headquartered in Toronto, Canada, the company is pioneering novel drug candidates designed to improve safety and efficacy over naturally occurring psychedelics. Cybin’s research emphasizes proprietary formulations and delivery methods to optimize bioavailability and patient experience.
The company’s pipeline includes multiple investigational products, such as sublingual psilocybin analogs, deuterated tryptamines, and other small-molecule derivatives.